Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Foxconn looks at making EVs in Europe, India and Latin America

Taiwanese tech company Foxconn is setting sights on making electric vehicles (EVs) in Europe, India and Latin America, including “indirectly” working in cooperation with German auto makers, according to Foxconn’s Chairman Liu Young-way.

Formally known as Hon Hai Precision Industry Co Ltd, Foxconn seeks to bolster its positions in the global electric vehicle market and has inked deals with US startup company Fisker Inc and Thailand’s energy group PTT PCL.

In a statement during a business forum in Taipei earlier this week, Liu said that due to disclosure restrictions he could not provide any details of Foxconn’s plans for Europe, India and Latin America.

“Europe will be a bit faster, I agree with that. But as to where, I can’t tell you,” Foxconn’s Chairman told reporters at the event.

He said that the company’s timeline would include Europe first, then India and Latin America, while Mexico was “very possible”.

Liu also said that Foxconn and its partners would be using the tech giant’s BOL model (Build, Operate and Localise), which includes the establishment and management of local facilities after which – selling output to clients locally.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News